For the first quarter ended March 31, 2002 the Company reported gross sales of $1,003,067 as compared to $1,403,842 for the quarter ended March 31, 2001. While gross revenues declined by approximately $400,000, it should be noted that the company did not introduce any significant products or upgrades in the first quarter 2002 and sales for the first quarter of 2001 reflect reorders from the fourth quarter release of a new version of its flagship title, QuickVerse Version 7.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) increased approximately $358,000 from a loss of approximately $166,000 for the three months ended March 31, 2001 to a profit of approximately $192,000 for the three months ended March 31, 2002. Net income increased from a loss of $281,207 in the first quarter ended March 31, 2001 to a profit of $88,425 for the first quarter ended March 31, 2002. This marks the first profitable quarter for the Company in 7 quarters.

FindEx Chief Executive Officer Steven Malone remarked, “While we still have a long way to go in our turnaround plan for the Company, we are certainly pleased to announce our first profitable quarter in almost 2 years. I believe the numbers reported for the first quarter indicate the effectiveness of our revised strategy in cutting costs, focusing on our core product line and aggressively ramping up our internal direct marketing efforts. With an eye towards continuing this trend, we have begun the process of rebuilding our development team and expect to be adding several key individuals in the very near future that we believe will help us get our flagship products back on the development track and allow us to more rapidly introduce new products in the months and years ahead. While we recognize that our development strategy is aggressive, we believe that it is achievable and that it will provide us a level of revenue growth we have been striving for for some time.”

Malone added, “We continue to focus on cost cutting and streamlining efficiencies. We expect to be consolidating our production and distribution facilities with our corporate offices beginning in June. This will allow us to more fully take advantage of new technology we have recently implemented to cut shipping costs, and is expected to result in a reduction in facilities overhead. We also intend to outsource product fulfillment of our secular and Christian Booksellers Association (CBA) retail outlets and focus only on direct-to-consumer fulfillment in-house. This, too, is expected to contribute meaningfully to keeping our overhead down and keeping our staff focused on product development, marketing and sales.”

In discussing the operating results of the Company, Kirk Rowland, Chief Financial Officer for FindEx stated, “In addition to being our first profitable quarter in almost 2 years, the first quarter also provided positive cash flow from operations. Our turnaround strategy enabled us to reduce our trade payables by $225,000 and re-open payment negotiations with many of our vendors and content providers. We are continuing to focus our turnaround strategy on building positive cash flow and improving our vendor and provider relationships.”

FindEx is a developer, publisher, distributor and supplier of “inspirational” and faith-based, off-the-shelf software products to individuals and religious and other spiritual organizations including schools, churches and other faith-based ministries.

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In addition to the historical financial information contained herein, this release contains certain forward-looking statements. Forward-looking statements in this press release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current management expectations and involve known and unknown risks and uncertainties, which may cause the Company’s actual results in future periods to differ materially from forecasted results. A number of factors, including those identified below, could adversely affect the Company’s ability to obtain these results: the Company is experiencing and may continue to experience reduced revenues due to delays in the introduction and distribution of its products, the Company is under-capitalized and requires additional equity investment, the loss of key executives could harm our business, the Company has a limited operating history, product returns that exceed anticipated reserves could result in worse than expected operating results, the failure of the Company to obtain CD-rom manufacturing and packaging services on a timely basis could materially harm the business, the ability to consummate suitable acquisitions, the ability to effectively integrate acquisitions or implement new production programs, economic factors which affect the Company’s customers, the manufacturing industry, or the economy in general and changes in government regulations. Certain of these risks are described in the Company’s Form 10-K for the year ended December 31, 2001.